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85-96 PROVIDING FOR THE FINANCING BY THE CITY OF DECATUR, ILLINOIS, OF AN INDUSTRIAL PROJECT IN ORDER THAT PERSHING DEVELOPMENT COMPANY MAY BE PROVIDED WITH FACILITIES TO ENCOURAGE DEVELOPMENT
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85-96 PROVIDING FOR THE FINANCING BY THE CITY OF DECATUR, ILLINOIS, OF AN INDUSTRIAL PROJECT IN ORDER THAT PERSHING DEVELOPMENT COMPANY MAY BE PROVIDED WITH FACILITIES TO ENCOURAGE DEVELOPMENT
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Last modified
8/29/2016 11:49:39 AM
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8/29/2016 11:49:36 AM
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Resolution/Ordinance
Res Ord Num
85-96
Res Ord Title
PROVIDING FOR THE FINANCING BY THE CITY OF DECATUR, ILLINOIS, OF AN INDUSTRIAL PROJECT IN ORDER THAT PERSHING DEVELOPMENT COMPANY, MAY BE PROVIDED WITH FACILITIES TO ENCOURAGE DEVELOPMENT OF THE CITY OF DECATUR...
Approved Date
12/23/1985
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. • <br /> owners of the Bonds hereby authorized; and after the issuance of <br /> the Bonds no modification, alteration, or amendment or supplement <br /> to the provisions of this Bond Ordinance shall be made in any <br /> manner except with the written consent of the registered holders <br /> and owners of the Bonds until such time as all principal install- <br /> ments of, and interest on the Bonds shall have been paid in full. <br /> SALE OF BONDS <br /> Section 16. The sale of the Bonds to the Purchaser <br /> under and pursuant to the Bond Purchase Agreement authorized <br /> under Section 12 hereof is hereby approved. � <br /> SATISFACTION AND DISCHARGE <br /> Section 17. All rights and obligations of the Issuer <br /> and the Borrower under the Loan Agreement, the Note, the Assign- <br /> ment, the Bonds, the Mortgage, any Lease Assignment, the Bond <br /> Purchase Agreement and this Bond Ordinance shall terminate and <br /> such instruments shall cease to be of further effect, and the <br /> Assignee shall cancel the Bonds, deliver them to the Issuer, and <br /> deZiver a copy of the cancelled Bonds to the Borrower, and shall <br /> assign and deliver to the Borrower any moneys in the Bond Fund <br /> required to be paid to the Borrower under Section 7 hereof <br /> (except moneys held by the Purchaser for the payment of principal <br /> of or interest on the Bonds) when: <br /> (a) all expenses of the Issuer, the Assignee and the <br /> Purchaser shall have been paid; <br /> (b) all of the covenants and promises in the Loan <br /> Agreement, the Note , the Assignment, the Bonds, the Mort- <br /> gage, and any Lease Assignment, the Bond Purchase Agreement <br /> -36- <br />
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